Outlook Of Nifty/bank nifty today

Nifty Outlook:  

The market could very well blow out on the way up going forward but one should be prepared for some volatility in both global and local markets in April-May and there is also likelihood of a correction since we have gone up for three months on a trot. The government has raised a record Rs 46,247 crore through disinvestment, of which Rs 10,779 crore has come from strategic disinvestment and SUUTI's investment. With this, the disinvestment proceeds of 2016-17 has exceeded the revised estimates (RE) of Rs 45,500 crore set in 2017-18 Budget. Record achievement of Rs 46,247 crore include Rs 35,468 crore from CPSE disinvestment and Rs 10,779 crore from strategic disinvestment and SUUTI's investment, the finance ministry said in a tweet.\

Bank Nifty Outlook:  

The Budget for 2016-17 had set a target of Rs 56,500 crore from PSU disinvestment. Of this Rs 36,000 crore was to come from disinvestment of CPSEs and Rs 20,500 crore from strategic stake sale of PSUs. In the Revised Estimates, this target of Rs 56,500 crore was scaled down to Rs 45,000 crore. The limits for investment by FPIs in central government securities have been increased by Rs 110 billion, while the same for SDLs are up by Rs 60 billion, the apex bank said in a notification. On the central government securities, the cap on general category has been increased to Rs 1,565 billion from the Rs 1,520 billion, while for long term investors, the limit has been upped to Rs 745 billion from Rs 680 billion earlier. This takes the total increase in the investment caps for FPIs in g-secs up to Rs 2,310 billion from Rs 2,200 billion.

Nifty Trends
R1	9220
R2	9290
S1	9130
S2	9070

Technical Outlook:

Top Gainers
RELIANCE	1320.60
IOC	387.00
HINDALCO	194.55
ACC	1450.00
NTPC	165.85

Top Losers
HDFCBANK	1440.00
ICICIBANK	276.35
GRASIM	1050.20
AXISBANK	490.80
HDFC	1499.85